Cloud computing, in general terms, is the computing model that allows
clients to use only a specific set of services that are required and
pay only for them, in contrast to software tools or services that
come bundled with a number of tools or services that are not needed.
Cloud computing has become one of the most preferred computing models
for the healthcare industry in its way to transformation from the
conventional paper-based data storage and processing to the more
sophisticated and advanced digitally aligned data model.
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By eliminating the need for a local server or a dedicated hardware
system for the storage and access of data-heavy entities such as
electronic health records (EHRs) and a variety of medical scan
images, the cloud computing model provides the healthcare industry an
infrastructure that allows for improved use of resources at low
initial capital investment. Additionally, cloud computing models help
in lowering the barriers for innovation and modernization of
healthcare information technology systems and applications owing to
their flexible nature, typically not possible with traditional IT
solutions. In the area of research and development in the healthcare
industry, cloud computing has demonstrated its capability of
delivering improved services in a cost competitive manner.
This report on the global cloud computing in healthcare research and
development market presents a detailed overview of the state of
exploitation of the cloud model in these areas in the healthcare
industry. The factors expected to impact the growth and overall
development of the market, in positive or negative ways, are examined
in great details. As such, the report presents an overview of factors
such as drivers, restraints, trends, opportunities, and regulatory
factors observed across key regional markets and on a global level.
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The market is chiefly drive due to the rising expenditure of global
pharmaceutical giants on research and development activities aimed at
the development of next generation drugs and treatment methods. The
globalization of key vendors in the pharmaceutical and
biopharmaceutical industries, necessitating the establishment of R&D
facilities, is also expected to remain central to the increased scope
of adoption of cloud computing in research and development activities
in the healthcare industry.
From a geographical perspective, the North America market for cloud
computing in healthcare research and development dominates,
accounting for the dominant share in the revenue of the overall
market. The presence of a large number of some of world’s leading
pharmaceutical and biopharmaceutical companies in the region is one
of the key factors driving the high adoption of cloud computing for
research and development activities in the healthcare sector. The
Europe market, which follows North America in terms of market
position and contribution of revenue to the global market, also fares
well owing to the same factor – the presence of a large number of
leading pharmaceutical and biopharmaceutical companies.
The global market for cloud computing in healthcare research and
development features an exceedingly fragmented vendor landscape. It
has been observed that none of the players in the market hold more
than 5%-10% share in the global market. With the rising adoption of
cloud computing in research and development activities in the
healthcare industries and the subsequent rise in growth opportunities
offered by the market, a number of new players are expected to enter
the market, making the competitiveness more intense.
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Some of the key companies in the market presently are Cisco Systems,
Inc., Oracle Corporation, Intel Corporation, Microsoft Corporation,
IBM Corporation, Carecloud Corporation, Carestream Health, Inc., and
Merge Healthcare, Inc.
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